AP source: Michael Jordan has small stake in Jeter group

MIAMI — A person familiar with the situation says NBA Hall of Famer Michael Jordan has a small stake in Derek Jeter's investment group that reached an agreement to buy the Miami Marlins.

The person confirmed Jordan's role to The Associated Press on condition of anonymity Sunday because the parties involved have not commented.

Jordan already owns the NBA Charlotte Hornets. He and Jeter have known each other for more than 20 years and are close friends.

A signed $1.2 billion agreement was submitted Saturday to Major League Baseball for Marlins owner Jeffrey Loria to sell the franchise to a group that includes Jeter, the former New York Yankees captain. Venture capitalist Bruce Sherman of Naples, Florida would be the controlling owner.